N.Y. Comp. Codes R. & Regs. tit. 23 § 201.2

Current through Register Vol. 46, No. 45, November 2, 2024

Section 201.2 - Registration

(a) Every consumer credit reporting agency that, within the previous 12-month period, has assembled, evaluated, or maintained a consumer credit report on one thousand or more New York consumers shall register with the superintendent in a form and manner acceptable to the superintendent.

(b) Every consumer credit reporting agency that is required to register pursuant to subdivision (a) shall designate in its registration one or more officers and one or more directors responsible for the business entity's compliance with the financial services, banking, and insurance laws, rules and regulations of this state.

(c) Every consumer credit reporting agency that is required to register pursuant to subdivision (a) at any time between June 1, 2018 and September 1, 2018, shall make the registration required by subsection (a) of this section on or before September 15, 2018, pursuant to the instructions and registration form available at www.dfs.ny.gov . Any other consumer credit reporting agency shall make the registration required by subsection (a) of this section within 15 days of when it is first required to register pursuant to subdivision (a) pursuant to the instructions and registration form to be published by the department.

(d) Every consumer credit reporting agency required to register pursuant to subdivision (a) of this section shall renew its registration by February 1, 2019 for the 2019 calendar year, and by February first of each successive year for the calendar year thereafter pursuant to the instructions and registration form to be published by the department.

(e) The superintendent may refuse to renew a consumer credit reporting agency's registration if, after notice and hearing, the superintendent determines the registrant or any member, principal, officer or director of the applicant, is not trustworthy and competent to act as or in connection with a consumer credit reporting agency, or that any of the foregoing has given cause for revocation or suspension of such registration, or has failed to comply with any minimum standard. Before refusing to renew the registration of any consumer credit reporting agency pursuant to the provisions of this Part, the superintendent shall give notice to the registrant and shall hold, or cause to be held, a hearing not less than 15 days after the giving of such notice.

(f) Registrants under this section shall be subject to examination by the superintendent as often as the superintendent may deem it necessary.

N.Y. Comp. Codes R. & Regs. Tit. 23 § 201.2

Adopted New York State Register July 3, 2018/Volume XL, Issue 27, eff. 7/3/2018